Selecting A Car Which Is Around A Couple Of Years Old Is Cost Effective
Brand new cars are incredibly attractive especially sitting in one for the first time however there are good reasons to purchase one that is a couple of years old. Purchasing a new car is something I was warned against previously by my grandmother. She said I might possibly be better off finding a car a couple of years old with low mileage. Based on her thinking, whatever car I acquired should be running well and if there had been anything needing attention, this would already have been carried out.
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Those principles are something I still follow today as they are sensible and in buying an older car there are other considerations that bring weight to this argument. I will now expand further on just why buying a car that is not extremely old can result in saving you lots of money.
Right after paying for a new car, it is usually worth a few thousand less immediately after you leave the car showroom and is something you may not have considered. It could be that you think you have bought a car that is excellent value for money if you paid $25,000 for instance but in reality you haven't. As soon as you leave the car showroom, a new valuation of $20,000 could be the asking price for your car. In reality in the course of that first journey you could have taken a hit of $5,000 and this occurred in just a few minutes of time.
You should purchase a brand new car if you feel I am being extreme. Then simply drive it no place else but straight home. With regards to how much money your car can be worth the next day, just go back to precisely where you bought the car and see how much they would be prepared to give you. No doubt for that $25,000 car you bought yesterday they will just offer you $15,000 to $20,000 for the trade in value.
Over the years this has been the typical way of doing things. It's changing in a number of situations where there is a thirty day window to get a 100% trading in valuation for your car from the original dealer. Basically, after 30 days, you still have to come to grips that you are looking at a loss of $5,000. And in case you try to sell the car outright you could end up losing even more than that.
A two year old car will not likely suffer that kind of loss when you are purchasing it from a car dealer in the same way. Additionally, any troubles with the car should have been ironed out as my grandma advised. The value for money of a decreased mileage older car is a lot more than purchasing a new car from a dealer when you take all of this into consideration.
Therefore when purchasing a new car, these are all factors that you need to consider. You may need to sacrifice the attraction of a new car to end up with the most cost effective transaction.